Gold prices set for weekly gain on smaller U.S. rate-hike bets

Atlanta Federal Reserve Bank president Raphael Bostic said on Thursday that the inflation data may allow the Fed to scale back to quarter-point rate hikes at its upcoming meeting. Gold is seen as an inflation hedge, but higher interest rates increase the opportunity cost of holding the asset.

Gold prices set for weekly gain on smaller U.S. rate-hike bets
Atlanta Federal Reserve Bank president Raphael Bostic said on Thursday that the inflation data may allow the Fed to scale back to quarter-point rate hikes at its upcoming meeting. Gold is seen as an inflation hedge, but higher interest rates increase the opportunity cost of holding the asset.